Biotechnology Equipment Market

Market Definition

The Biotechnology Equipment Market was valued at USD 40.78 billion in 2021 and is predicted to reach USD 121.81 billion by 2030, expanding at a CAGR of 13.2% from 2023 to 2030.

Biotechnology can be defined as the branch of science that deals with the application of biological techniques for human welfare. It entails the enzymatic modification of genes, which results in the production of several biological entities such as antibodies, and vaccines among others that benefit mankind. Biotechnology has numerous applications, primarily in medicine and agriculture. Prominent uses of biotechnology include merging biological information with computer technology and exploring the use of microscopic equipment that can enter the human body and assist in several diagnostic procedures or treatments.

Moreover, biotechnology has made stem cell research and cloning possible to replace dead or defective cells and tissues. These procedures require equipment such as sterilizing and disinfecting equipment called autoclave, microcentrifuges to spin samples, and incubators for the growth and storage of bacterial cultures among others.

Market Dynamics and Trends

The growing demand for biotechnology in medical applications that involves the research and production of new medicines along with diagnostic tests to detect various diseases is leading to the increased utilization of biotechnological equipment such as laboratory tubes, microscopes, and others. This is attributable to the significant growth of the biotechnology equipment market in the region.

Also, the rising demand for green biotechnology in agricultural applications that provides farmers with biotechnological tools to make production cheaper, faster, and more manageable is driving the growth of the biotechnology equipment market. In addition, green biotechnology is used in various agricultural applications including hybridization, plant tissue culture, bio-fertilizer technology, and others leading to the extensive use of biotechnology equipment.

Moreover, the growing need for white biotechnology in industrial sectors, which utilizes living cells from organisms such as yeast, molds, bacteria, plants, and enzymes to manufacture a range of industrial products, including laundry detergents and automatic dishwashing detergents, is anticipated to drive market growth. This trend necessitates the utilization of diverse biotechnological equipment throughout the production process, thereby fueling the expansion of the market.

However, high cost of the biotechnological equipment along with shortage of skilled professionals in developing countries that can operate this complex equipment are the factors restraining the growth of the market. On the other hand, technological advancements in biotechnology equipment, particularly in current cell therapies for cancer and blood-related diseases, are expected to create ample opportunities for the biotechnology market in the coming years.

Market Segmentations and Scope of the Study

The biotechnology equipment market is segmented on the basis of product, end-user, application, and geography. On the basis of product, the market is divided into lab automation instruments, life science consumables, IVD instruments, medical lasers, and others. On the basis of end-user, the market is classified into pharmaceutical companies, government & academic institutions, hospitals & healthcare facilities, and others. On the basis of application, the market is classified into life science, clinical diagnostics, quality management, food & beverage testing. Geographic breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and Row.

Geographical Analysis

North America held the lion’s share of biotechnology equipment market in 2021 and is expected to continue its dominance during the forecast period. This is attributable to the high prevalence of cardiac disorders such as cancer, diabetes, and others that use biotechnology to produce various pharmaceuticals for therapy such as interferon, insulin, and others.

According to the GLOBOCAN 2020 report, Mexico reported 29,929 new breast cancer cases, while Canada reported 274,364 new cases of breast cancer. Also, regional biotechnology manufacturers such as Honeywell are launching various products in the region to increase the acceptance of automation of biotechnology processes in the pharmaceuticals industry, which is driving the growth of the market. For instance, in June 2020, Honeywell announced fast-track automation to expedite drug production. This is a combination of proprietary technology innovations for the pharmaceutical industry that produces vital vaccines treatments and therapies.

Asia Pacific is expected to show a steady rise in the biotechnology equipment market during the forecast period due to the growing utilization of biotechnology instruments in the agriculture, energy, and environment protection fields by several countries such as China, India, and Japan. For instance, in March 2021, Japan launched the world's first genome-edited tomato by using CRISPR-Cas9, which is a new frontier of biotechnology innovation.

Also, the emergence of various biotech companies such as Globalink, Biocon Ltd, and others is expected to boost the growth of the biotechnology equipment market in the region. For instance, in August 2020, Biocon Ltd and Mylan N.V. launched Semglee an insulin glargine injection to help control high blood sugar in adult and pediatric patients with type 1 diabetes and adults with type 2 diabetes.

Competitive Landscape

Various market players operating in the biotechnology equipment market include Abbott, Agilent Technologies, Alcon Inc, AngioDynamics, Becton, Dickinson and Company (BD), BioMerieux SA, Bio-Rad Laboratories, BioTek Instruments Inc, Candela Medical, Cynosure LLC, and Sartorius Stedim Biotech among others. These market players continue to adopt various market development strategies including new launches and joint ventures to maintain their dominance in the biotechnology equipment market.

For instance, in June 2022, Bio-Rad Laboratories launched CHT prepacked foresight pro columns for biotherapeutic production. This biotechnology equipment provides the biopharmaceutical industry with a convenient solution to improve the productivity of downstream bioprocessing from the early phases to the manufacturing-scale process.

Also, in January 2021, Sartorius Stedim Biotech acquired Novasep's chromatography process equipment division. Novasep's chromatography unit comprises resin-based batch and intensified chromatography systems that primarily focus on high-pressure and multi-use applications for smaller molecules such as oligonucleotides, peptides, and insulin.

Key Benefits

• The biotechnology equipment market report provides a quantitative analysis of the current market and estimations from 2023 to 2030. This analysis assists in identifying the prevailing market opportunities to capitalize on.

• The study comprises a detailed analysis of the biotechnology equipment market trends including the current and future trends for depicting the prevalent investment pockets in the market.

• The information related to key drivers, restraints, and opportunities and their impact on the biotechnology equipment market is provided in the report.

• The competitive analysis of the market players along with their market share in the biotechnology equipment market is mentioned.

• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.

• The value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

Key Market Segments

By Product

• Lab Automation Instruments

• Life Science Consumables

• IVD Instruments

• Medical Lasers

• Others

By End-User

• Pharmaceutical Companies

• Government & Academic Institutions

• Hospitals & Healthcare Facilities

• Others

By Application

• Life Science

• Clinical Diagnostics

• Quality Management

• Food & Beverage Testing

By Geography

• North America

  • U.S

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • Spain

  • Italy

  • Spain    

  • United Kingdom    

  • Russia        

  • Sweden    

  • Rest of Europe

• Asia-Pacific

  • China

  • India 

  • Japan

  • South Korea

  • Indonesia    

  • Singapore    

  • Rest of Asia-Pacific

• Rest of World

  • UAE

  • Brazil

  • South Africa

  • Israel

  • KSA (Kingdom of Saudi Arabia)    

  • Turkey

  • Remaining Countries

Key Players

• Abbott

• Agilent Technologies

• Alcon Inc

• AngioDynamics

• Becton, Dickinson and Company (BD)

• BioMerieux SA

• Bio-Rad Laboratories

• BioTek Instruments Inc

• Candela Medical

• Cynosure LLC

• Sartorius Stedim Biotech